I use standalone Tradestation. I would like to set a trail stop let's say 3x ATR for my positions. Anybody knows how to do this? Do I need to buy an add-on from somebody? Thanks!
Doesn't TS6 have an ATR based trailing stop code as part of the canned programs? I think it might have a minimum range that the security needs to travel before the stop kicks in, but you can probably adjust or eliminate this.
Thanks. Tradestation 2000i, version 5.0 it seems. What I try to have is a line on my screen (like a MA) which shows the ATR based stop. Have seen it in publications etc., but have no idea how to get it. It's not one of the canned Tradestation indicators...
This is a copy of the canned TS6 long exit trailing stop. Hopefully it'll get you started: { LX trailing stop based on ATR, activates immediately after entry; profit floor not required because stop starts out loose; entry-bar protection included. NOTE: This is not a strict trailing stop because the stop can actually loosen sometimes instead of always tightening. To convert to a strict trailing stop, ATRVal should be fixed at the entry-bar for each position. } inputs: ATRLength( 10 ), NumATRs( 3 ) ; variables: ATRVal( 0 ), MP( 0 ), PosHigh( 0 ) ; ATRVal = AvgTrueRange( ATRLength ) * NumATRs ; MP = MarketPosition ; if MP = 1 then begin if MP[1] <> 1 or High > PosHigh then PosHigh = High ; Sell ( "AtrLX" ) next bar at PosHigh - ATRVal stop ; end else Sell ( "AtrLX-eb" ) next bar at High - ATRVal stop ; { ** Copyright (c) 1991-2002 TradeStation Technologies, Inc. All rights reserved. ** } Enjoy